Mexico Cuts Key Interest Rate For First Time Since 2021
- Central bank lowers benchmark rate by quarter point to 11%
- One of the five-member board voted to leave rate unchanged
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Mexico’s central bank cut interest rates for the first time since 2021 in a split decision, finally joining a regional trend for monetary easing as inflation slows.
The bank cut its key rate a quarter point to 11% on Thursday, as forecast by 26 of 29 economists surveyed by Bloomberg. Deputy governor Irene Espinosa voted to leave the rate unchanged, while the other four board members all backed the reduction, the bank said in its policy statement.